SoftBank Vision Fund loses $2 billion on portfolio struggles

In a sign of continuing struggles with its startup investments, SoftBank Group Corp. lost money again in its Vision Fund, one quarter after the Japanese company posted a record quarterly loss driven by the meltdown at WeWork.

The Vision Fund lost 225.1 billion yen ($2.05 billion) for the three months ended in December, the company said in a statement Wednesday. SoftBank Group reported a slim operating profit of 2.6 billion yen, compared with the 344.7 billion yen average of analyst estimates and 704.4 billion yen loss SoftBank reported in the September quarter.

The past 12 months have been a roller coaster for SoftBank and founder Masayoshi Son. A year ago, the company announced a record buyback, sparking a rally that pushed the price to the highest since its dot-com peak in 2000.